Received my US F-1 VISA but only valid for 3 months?

i just received my f-1 student visa and realized it is one entry as well as the expiry date ending in 3 months. I understand it is due to the passport that I currently have.

I understand that I am allowed to continue to study in the US. What if i have an emergency back home? What if I want to travel back to my own country? Is there any way to extend it to 2 years and multiple entry?